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Ping An Insurance （Group） Co.， one of China’s major insurance companies， saw mild growth in its net profits in 2012.
The company’s net profits increased 3 percent year on year to 20.05 billion yuan （$3.2 billion） in 2012， according to its annual business report filed with the Shanghai Stock Exchange.
By the end of 2012， its total assets jumped 24.5 percent to 2.84 trillion yuan （$457.2 billion） from the same period last year.
Ping An Bank contributed the most to its parent company. Its net profits surged 65.9 percent year on year to 13.23 billion yuan （$2.13 billion） in 2012， with 6.87 billion yuan （$1.1 billion） turned over to the group.
Raising Stakes
AkzoNobel intends to invest an extra 65 million euros （$84.1 million） in its Chinese factories， the Dutch paints， coatings and chemicals company said on March 19.
The new investment will be used to boost the capacity and performance of its surface chemistry manufacturing sites.
According to AkzoNobel， half of the money will be spent on the company’s facility in Shandong Province， which was taken over as part of the acquisition of Boxing Oleochemicals in January 2012.
In Ningbo， Zhejiang Province， a new alkoxylation unit will be built， bringing the total investment at the site to 400 million euros（$517.87 million）.
AkzoNobel currently employs more than 7，000 people in China， generating sales revenue of 1.7 billion euros （$2.2 billion） in 2012， mostly from local demand.
The company’s net profits increased 3 percent year on year to 20.05 billion yuan （$3.2 billion） in 2012， according to its annual business report filed with the Shanghai Stock Exchange.
By the end of 2012， its total assets jumped 24.5 percent to 2.84 trillion yuan （$457.2 billion） from the same period last year.
Ping An Bank contributed the most to its parent company. Its net profits surged 65.9 percent year on year to 13.23 billion yuan （$2.13 billion） in 2012， with 6.87 billion yuan （$1.1 billion） turned over to the group.
Raising Stakes
AkzoNobel intends to invest an extra 65 million euros （$84.1 million） in its Chinese factories， the Dutch paints， coatings and chemicals company said on March 19.
The new investment will be used to boost the capacity and performance of its surface chemistry manufacturing sites.
According to AkzoNobel， half of the money will be spent on the company’s facility in Shandong Province， which was taken over as part of the acquisition of Boxing Oleochemicals in January 2012.
In Ningbo， Zhejiang Province， a new alkoxylation unit will be built， bringing the total investment at the site to 400 million euros（$517.87 million）.
AkzoNobel currently employs more than 7，000 people in China， generating sales revenue of 1.7 billion euros （$2.2 billion） in 2012， mostly from local demand.